ATLANTA, GA – Floor & Decor Holdings, Inc. (NYSE:), a leading specialty flooring retailer, today announced that the settlement hearing in its pending shareholder lawsuit has been postponed. The hearing originally scheduled for today will now take place on December 23, 2024 at the Court of Chancery of the State of Delaware.
The lawsuit, known as Lincolnshire Police Pension Fund v. Taylor, et al., no. 2020-0487-JTL, is directed against certain officers, directors and shareholders of the Company. Detailed information about the lawsuit and the terms of the settlement can be found on the Company's investor relations website. Data from InvestingPro shows that Floor & Decor has a solid financial rating (FAIR), with robust cash flows that can easily cover interest payments.
Floor & Decor Holdings, Inc., headquartered in Atlanta, Georgia, operates in the retail sector and specializes in the sale of lumber and other building materials. The company is listed on the New York Stock Exchange under the ticker symbol FND.
In other recent developments, Floor & Decor Holdings, Inc. announced significant changes to its board of directors and mixed results for the third quarter of fiscal 2024. The company appointed Nada Aried, an experienced technology and retail executive, to the board effective January 1, 2025. At the same time, Peter Starrett's next resignation from the board was announced on February 28, 2025.
Financially, despite industry-wide challenges such as hurricanes and a difficult macroeconomic environment, Floor & Decor experienced an increase in gross margin to 43.5% and an increase in connected customer sales. However, comparable transactions fell 4.1% year over year and net income fell 21.6% to $51.7 million. The company previously downgraded its full-year revenue guidance and remains cautious about its near-term future prospects.
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